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Sunday Brief, 29 August 2010
Can it get worse?
Can it get worse?
After 3 weeks of bearish action, this market appears inclined to test SPX 1010, and many believe Friday's bounce is just a short-term play at best. As for me, my last entry is at 1079, and if I could break even, I'll take an exit.
First up is the hourly July chart I've changed to a 2-hour chart, to consolidate space. If the bounce continues, I can see a test of 1070, which is a 50% retracement...
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Kitty has claws
Know your stops
Know your stops
22 August, in my last blog I explained why I felt 1056 (now broken) was both a key short & long term level of significant importance between the bulls and the bears.
22 August, in our Head & Shoulders thread I posted a short-intermediate term chart with an estimated 1010 target, the same one (of many) Toms been keeping us posted on.
15 & 22 August, I posted bearish charts in the Weekly Talk thread....
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Sunday Brief, 22 August 2010
Where there's smoke...1056 is fire
Where there's smoke...1056 is fire
The week started out great, then ended with a thud. It is what it is, the Bears have been gaining ground in the news and on the blogs, while our governments statistics are backing up their claims. I don't know where sentiment is, but my perception of bearish sentiment is spiking to all time highs. As a result, my expectations for the remainder of the year have been lowered.
...
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Caution 1084
Last night the markets revealed 3 days worth of price action in one day. You'd think I'd be happy with those profits, but happiness doesn't make you money if you don't get a good exit and I regret not pulling back to the G-Fund. Truth is I would have, but I had a last minute tasker and needed to deal with it.
Believe it or not, when I drew this ascending triangle over the weekend, I calculated an 1199 price target, but I didn't post...
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How to exit
using Fibonacci Linear Regression Channels.
using Fibonacci Linear Regression Channels.
I don't often share the details of my IFTs, but since I've been on a tangent lately, I figured I'd show you the typical setup I look for. If it works for me, so be it, if not, then I'll adjust as necessary. This is the AGG chart I had going into Monday morning. Due to space limitations when posting pictures, when I show you Fibonacci levels, what I don't show are the projections. The grayish dashed line at...
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Originally Posted by Birchtree
So, my friend why are
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